How do I complete this balance sheet?
Cash 10,000
Accounts Payable 15,000
Prepaid Expense 1,000
Building...
How do I complete this balance sheet?
Cash 10,000
Accounts Payable 15,000
Prepaid Expense 1,000
Building 150,000
Land 100,000
Mortgage Payable 50,000
Treasury Stock 50,000
Accounts Receivable 15,000
Equipment 50,000
Accumulated Depreciation 75,000
Allowance for Doubtful Accounts 1,000
Current Maturity of Mortgage Payable 25,000
Common Stock 200,000
Retained Earnings 17,000
Inventory 7,000
Given the following account information for Leong Corporation,
prepare a balance
sheet (8
Marks)
in report form...
Given the following account information for Leong Corporation,
prepare a balance
sheet
in report form for the company as of December 31, 2017. All
accounts have normal balances.
Equipment 70,000
Interest
Expense 2,400
Interest
Payable 600
Retained
Earnings 234,680
Land 137,320
Accounts
Receivable 102,000
Bonds
Payable 78,000
Notes Payable (due in 6
months) 34,400
Common
Stock 70,000
Accumulated Depreciation - Equip 10,000
Prepaid
Advertising 5,000
Service
Revenue 351,400
Buildings 80,400
Supplies 1,860
Income Taxes
Payable 3,000
Utilities
Expense 1,320
Advertising
Expense 1,560
Salaries and Wages
Expense 53,040
Salaries and Wages
Payable 900
Accumulated Depr. -
Bld. 15,000
Cash 50,000
Depreciation
Expense 8,000...
Prepare a balance sheet from the following
information: B.Smith, capital: $84,000; Automobile =
$13,000; Furniture and fixtures...
Prepare a balance sheet from the following
information: B.Smith, capital: $84,000; Automobile =
$13,000; Furniture and fixtures = $7,000; Accounts payable = $2000;
Building = $10,000; Notes Payable = $15,000; Land = $40,000;
Accounts receivable = $8000; Equipment = $20,000; Cash = $3000
Prepare the 4 required year-end closing entries, given the
following adjusted trial balance. Use Journal Entry...
Prepare the 4 required year-end closing entries, given the
following adjusted trial balance. Use Journal Entry format.
DEBIT
CREDIT
Cash
$112,000
Accounts Receivable
$27,000
Prepaid Rent
$15,000
Prepaid Insurance
$9,000
Office Supplies
$3,300
Equipment
$38,000
Accumulated Depreciation - Equipment
$3,200
Building
$288,000
Accumulated Depreciation - Building
$42,000
Land
$700,000
Accounts Payable
$25,800
Salaries Payable
$14,500
Interest Payable
$2,500
Notes Payable
$72,000
Common Stock
$200,000
Retained Earnings
$710,000
Dividends
$200,500
Service fees earned
$430,800
Salaries Expense
$90,000
Insurance Expense
$5,200
Rent...
ABC Co. Sales were $210,000 before a $10,000 return. COGS were
$150,000. Salary Expense was $10,000....
ABC Co. Sales were $210,000 before a $10,000 return. COGS were
$150,000. Salary Expense was $10,000. Depreciation Expense was
$5,000. Bad Debt Expense was $3,000. Interest expense was $1,000.
Tax Expense was a $1,000. Retained earnings had a beginning of the
year balance of $25,000. Dividends paid were $5,000. The end of
year (final) balances are as follows: Cash $50,000; Accounts
Receivable had an ending $80,000 balance; Accumulated depreciation
had a $60,000 balance; allowance for doubtful accounts had a
$20,000...
Prepare a multiple-step income statement for Yazdy Company for
2020
DR.
CR.
Accounts Payable
26,000
Accounts...
Prepare a multiple-step income statement for Yazdy Company for
2020
DR.
CR.
Accounts Payable
26,000
Accounts Receivable
57,000
Accumulated Depreciation – Equipment
40,000
Depreciation Expense
13,000
Sales Revenue
250,000
Cash
25,000
Common Stock
50,000
Equipment
150,000
Investment in Debt Securities
45,000
Freight-out
5,000
Insurance Expense
2,500
Salaries and Wages expense
30,000
Rent Expense
20,000
Sales Discount
8,000
Retained Earnings
25500
Prepaid Insurance
7,500
Sales Return and Allowance
12,000
Gain on Disposal of Plant Asset
6,000
Dividends
7,000
Interest Expense
7,500...
5. Devon’s bookkeeper provided the
following balance sheet.
DEVON COMPANY
Balance Report for
the year ended...
5. Devon’s bookkeeper provided the
following balance sheet.
DEVON COMPANY
Balance Report for
the year ended December 31, 2016
Current Assets:
Cash
$ 58,000
Current Liabilities:
Accounts payable
$ 25,000
Accounts receivable
123,500
Accumulated
depreciation: buildings
20,000
Inventory, at higher
of cost or market (cost $29,850)
35,800
Wages payable
22,200
Sinking fund for
bond retirement
115,000
Additional paid-in
capital on common stock
100,000
Long-Term Investments:
Long-Term Liabilities:
Treasury stock (at cost)
55,500
Bonds payable
100,000
Investments in bonds
Marketable securities,...
Please prepare a balance sheet with the information below.
Retained
Earnings
Retained Earnings
14,544
Net...
Please prepare a balance sheet with the information below.
Retained
Earnings
Retained Earnings
14,544
Net Income
10,777
Dividends Distributed
(6,577)
Retained Earnings Ending
Balance
18,744
Income
Statement
Sales
56,875
Cost of Goods Sold
32,733
Gross Profit
24,142
Operating and Admin Expenses
Salaries Expense
3,255
Depreciation Expense: Equipment
322
Depreciation Expense: Building
460
Bad Debt Expense
896
Insurance Expense
1,100
Other Expenses
956
Operating and Admin Expenses
...
Current Liabilities and Ratios
Several accounts that appeared on Spring's 2017 balance sheet
are as follows:...
Current Liabilities and Ratios
Several accounts that appeared on Spring's 2017 balance sheet
are as follows:
Accounts Payable
$83,000
Equipment
$950,000
Marketable Securities
40,000
Taxes Payable
15,000
Accounts Receivable
185,200
Retained Earnings
250,000
Notes Payable, 12%, due in 60 days
20,000
Inventory
165,000
Capital Stock
1,150,000
Allowance for Doubtful Accounts
20,000
Salaries Payable
10,000
Land
600,000
Cash
65,000
Required:
1. Prepare the Current Liabilities section of
Spring's 2017 balance sheet.
Spring
Partial Balance Sheet
As Of December 31, 2017
Current...
a comparative balance sheet for ALPHAinc at December 31,2017 is
shown below.
2017 2016 Change
cash...
a comparative balance sheet for ALPHAinc at December 31,2017 is
shown below.
2017 2016 Change
cash 30,000 35,000 -5,000
accounts receivable 55,000 45,000 10,000
inventory 65,000 45,000 20,000
preppaid expense 15,000 25,000 -10,000
land 70,000 40,000 30,000
right of use of asset 100,000 0 100,000
equipment 90,000 75,000 15,000
accumulated depreciation -18,000 -8,000 -10,000
total 407,000 257,000 150,000
Accounts payable 65,000 52,000 13,000
accrued expense 15,000 18,000 3,000
notes payable 0 23,000 -23,000
bonds payable 30,000 0 30,000
lease...